There are more carriers operating now so rates have settled, even declined. 

Even if the deal doesn't go through, sharing your experience and tactic will be valuable information for myself and the entire BP community. 

Are they able to go to a break-even 1.00 DSCR, or is their minimum higher than that?

We typically see 1-1.5% and in suburbs usually 2-2.5% even in Indiana if an investor its often higher tax rate then Chicago even though everyone thinks Indiana is low taxes its really just low if homeowner exemption there.

Also, investments over $550K now qualify for a 10-year golden Visa, which is drawing even more investors to the city.In Dubai the investment process is pretty straightforward, thanks to a business-friendly environment.

I work with many fresh grads and even an offer letter can get you a conventional mortgage.

We can even have it listed on airbnb...etc prior to closing.

Even under this scenario, with a 50/50 split, you will not be getting paid for doing all the work.Another option would be for you to put in 50% of the purchase price using an LLC that you own 100%, borrow the remaining 50% from your investor as a 2nd position loan at a fair interest rate with points, and borrow the rehab under your personal guarantee.Better, if you can find a lender who will lend to a newbie, and they are out there, you could borrow the purchase money using some of your cash as a down payment, as well as all the rehab funds using a construction loan.

I’d maybe start with, I agree with $x amount even though you missed the deadline but expect the rest returned to me within x days, or I plan to contact tenants rights group to help me seek all damages allowed.